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May 23, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2005-05-13
LSE values suffer losses

LSE values suffer losses

Share values underwent heavy battering on news of delay in bidding for PTCL privatisation, coupled with rumours regarding further tightening of exposure rules by the regulator pushing the index down by 3.84 percent on Lahore Stock Exchange (LSE) on Thursd
Published 13 May, 2005 12:00am
LSE values suffer losses

LSE values suffer losses

Share values underwent heavy battering on news of delay in bidding for PTCL privatisation, coupled with rumours regarding further tightening of exposure rules by the regulator pushing the index down by 3.84 percent on Lahore Stock Exchange (LSE) on Thursd
Published 13 May, 2005 12:00am
PTCL bidding on June 10

PTCL bidding on June 10

The Privatisation Commission has scheduled the bidding of Pakistan Telecommunication Company Limited (PTCL) on June 10, for acquiring 26 percent shares with management control as a wholly integrated telecom operator in Pakistan, a statement of the Privati
Published 13 May, 2005 12:00am
PTCL bidding on June 10

PTCL bidding on June 10

The Privatisation Commission has scheduled the bidding of Pakistan Telecommunication Company Limited (PTCL) on June 10, for acquiring 26 percent shares with management control as a wholly integrated telecom operator in Pakistan, a statement of the Privati
Published 13 May, 2005 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (May 12, 2005).

Published 13 May, 2005 12:00am
PTCL bidding on June 10

PTCL bidding on June 10

The Privatisation Commission has scheduled the bidding of Pakistan Telecommunication Company Limited (PTCL) on June 10, for acquiring 26 percent shares with management control as a wholly integrated telecom operator in Pakistan, a statement of the Privati
Published 13 May, 2005 12:00am
PTCL bidding on June 10

PTCL bidding on June 10

The Privatisation Commission has scheduled the bidding of Pakistan Telecommunication Company Limited (PTCL) on June 10, for acquiring 26 percent shares with management control as a wholly integrated telecom operator in Pakistan, a statement of the Privati
Published 13 May, 2005 12:00am
BMA-PGBI Closing Bell

BMA-PGBI Closing Bell

Bond Yields continue to rise across the curve (average 17 bps) and BMA-PGBI yield went up by approximately 12 bps as a result of which BMA-PGBI went down by 36% to close at 93.0842. Discounting of Rs 9.1bn took place today, the market is remains tight and
Published 13 May, 2005 12:00am
CED in VAT mode on leasing, banking companies planned

CED in VAT mode on leasing, banking companies planned

The Central Board of Revenue (CBR) has decided to impose central excise duty (CED) in value-added tax (VAT) mode on services provided by the leasing companies, banking companies, non-banking financial institutions and financial institutions in the Budget
Published 13 May, 2005 12:00am
BMA-PGBI Closing Bell

BMA-PGBI Closing Bell

Bond Yields continue to rise across the curve (average 17 bps) and BMA-PGBI yield went up by approximately 12 bps as a result of which BMA-PGBI went down by 36% to close at 93.0842. Discounting of Rs 9.1bn took place today, the market is remains tight and
Published 13 May, 2005 12:00am
CED in VAT mode on leasing, banking companies planned

CED in VAT mode on leasing, banking companies planned

The Central Board of Revenue (CBR) has decided to impose central excise duty (CED) in value-added tax (VAT) mode on services provided by the leasing companies, banking companies, non-banking financial institutions and financial institutions in the Budget
Published 13 May, 2005 12:00am
BMA-PGBI Closing Bell

BMA-PGBI Closing Bell

Bond Yields continue to rise across the curve (average 17 bps) and BMA-PGBI yield went up by approximately 12 bps as a result of which BMA-PGBI went down by 36% to close at 93.0842. Discounting of Rs 9.1bn took place today, the market is remains tight and
Published 13 May, 2005 12:00am
CED in VAT mode on leasing, banking companies planned

CED in VAT mode on leasing, banking companies planned

The Central Board of Revenue (CBR) has decided to impose central excise duty (CED) in value-added tax (VAT) mode on services provided by the leasing companies, banking companies, non-banking financial institutions and financial institutions in the Budget
Published 13 May, 2005 12:00am
Federal budget on June 10

Federal budget on June 10

Prime Minister''s Adviser on Finance Dr Salman Shah has said that the federal budget would be presented by June 10. Talking to a private TV channel, he said the budget could be presented in the National Assembly within first 10 days of June. It is not nec
Published 13 May, 2005 12:00am
Federal budget on June 10

Federal budget on June 10

Prime Minister's Adviser on Finance Dr Salman Shah has said that the federal budget would be presented by June 10. Talking to a private TV channel, he said the budget could be presented in the National Assembly within first 10 days of June. It is not nece
Published 13 May, 2005 12:00am
Federal budget on June 10

Federal budget on June 10

Prime Minister's Adviser on Finance Dr Salman Shah has said that the federal budget would be presented by June 10. Talking to a private TV channel, he said the budget could be presented in the National Assembly within first 10 days of June. It is not nece
Published 13 May, 2005 12:00am
Rs 252 billion allocation for PSDP likely next year

Rs 252 billion allocation for PSDP likely next year

The government is likely to allocate Rs 252 billion for Public Sector Development Programme (PSDP) 2005-06, against Rs 202 billion of 2004-05, it was reliably learnt here on Thursday. Sources said PSDP is an important segment of Pakistan''s fiscal policy
Published 13 May, 2005 12:00am
Rs 252 billion allocation for PSDP likely next year

Rs 252 billion allocation for PSDP likely next year

The government is likely to allocate Rs 252 billion for Public Sector Development Programme (PSDP) 2005-06, against Rs 202 billion of 2004-05, it was reliably learnt here on Thursday. Sources said PSDP is an important segment of Pakistan's fiscal policy a
Published 13 May, 2005 12:00am
Rs 252 billion allocation for PSDP likely next year

Rs 252 billion allocation for PSDP likely next year

The government is likely to allocate Rs 252 billion for Public Sector Development Programme (PSDP) 2005-06, against Rs 202 billion of 2004-05, it was reliably learnt here on Thursday. Sources said PSDP is an important segment of Pakistan's fiscal policy a
Published 13 May, 2005 12:00am
KSE index loses 213.57 points

KSE index loses 213.57 points

The delay in privatisation of the Pakistan Telecommunication pre-bid meeting played havoc, and the market underwent heavy selling pressure, falling by almost three percent, where other state-run companies listed also suffered the bears onslaught on Thursd
Published 13 May, 2005 12:00am
KSE index loses 213.57 points

KSE index loses 213.57 points

The delay in privatisation of the Pakistan Telecommunication pre-bid meeting played havoc, and the market underwent heavy selling pressure, falling by almost three percent, where other state-run companies listed also suffered the bears onslaught on Thursd
Published 13 May, 2005 12:00am
KSE index loses 213.57 points

KSE index loses 213.57 points

The delay in privatisation of the Pakistan Telecommunication pre-bid meeting played havoc, and the market underwent heavy selling pressure, falling by almost three percent, where other state-run companies listed also suffered the bears onslaught on Thursd
Published 13 May, 2005 12:00am
World Bank initiating budget data analysis

World Bank initiating budget data analysis

The World Bank is initiating analysis of Pakistan''s budget data, including execution of projects under Public Sector Development Programme (PSDP), revised estimates for fiscal 2004-05 and fiscal and external sector projections for fiscal 2005-06," well p
Published 13 May, 2005 12:00am
World Bank initiating budget data analysis

World Bank initiating budget data analysis

The World Bank is initiating analysis of Pakistan's budget data, including execution of projects under Public Sector Development Programme (PSDP), revised estimates for fiscal 2004-05 and fiscal and external sector projections for fiscal 2005-06," well pl
Published 13 May, 2005 12:00am
World Bank initiating budget data analysis

World Bank initiating budget data analysis

The World Bank is initiating analysis of Pakistan's budget data, including execution of projects under Public Sector Development Programme (PSDP), revised estimates for fiscal 2004-05 and fiscal and external sector projections for fiscal 2005-06," well pl
Published 13 May, 2005 12:00am
28 killed in Iraq violence

28 killed in Iraq violence

At least 15 people died and more than 80 were wounded when a car bomb exploded on Thursday morning on a busy Baghdad road, hospital sources and police said, as insurgents maintained a relentless and bloody onslaught. Medics at Kindi hospital said they rec
Published 13 May, 2005 12:00am
28 killed in Iraq violence

28 killed in Iraq violence

At least 15 people died and more than 80 were wounded when a car bomb exploded on Thursday morning on a busy Baghdad road, hospital sources and police said, as insurgents maintained a relentless and bloody onslaught. Medics at Kindi hospital said they rec
Published 13 May, 2005 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (May 12, 2005).

Published 13 May, 2005 12:00am
Government seeks assets details sold by Railways in Sindh

Government seeks assets details sold by Railways in Sindh

The federal government has sought details of assets sold by Pakistan Railways in Sindh and the sharing of sale proceeds with the provincial government, it is reliably learnt. "The matter regarding sharing of sale proceeds between Railways and Sindh govern
Published 13 May, 2005 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (May 12, 2005).DAILY MONEY MARKET COMMENTS: Today morning the money market rates were indicated between the bids and offer range of 8.50% - 8.90%. As the day
Published 13 May, 2005 12:00am
Government seeks assets details sold by Railways in Sindh

Government seeks assets details sold by Railways in Sindh

The federal government has sought details of assets sold by Pakistan Railways in Sindh and the sharing of sale proceeds with the provincial government, it is reliably learnt. "The matter regarding sharing of sale proceeds between Railways and Sindh govern
Published 13 May, 2005 12:00am
Government seeks assets details sold by Railways in Sindh

Government seeks assets details sold by Railways in Sindh

The federal government has sought details of assets sold by Pakistan Railways in Sindh and the sharing of sale proceeds with the provincial government, it is reliably learnt. "The matter regarding sharing of sale proceeds between Railways and Sindh govern
Published 13 May, 2005 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Thursday (May 12, 2005).

Published 13 May, 2005 12:00am
Three children burnt alive in Karachi

Three children burnt alive in Karachi

Three children were burnt to death when fire broke out in Nanakwara near Lakhpati Hotel in Ranchore Line area here on Thursday. The family of Ramji Babu, consisting of his wife, two daughters and a son, were living on the second floor of an old building i
Published 13 May, 2005 12:00am
Three children burnt alive in Karachi

Three children burnt alive in Karachi

Three children were burnt to death when fire broke out in Nanakwara near Lakhpati Hotel in Ranchore Line area here on Thursday. The family of Ramji Babu, consisting of his wife, two daughters and a son, were living on the second floor of an old building i
Published 13 May, 2005 12:00am
Afghan drugs pose threat to Pakistan: UN official

Afghan drugs pose threat to Pakistan: UN official

United Nations Office on Drugs and Crime (UNODC) has expressed concern over resurgence of poppy cultivation in Afghanistan saying incumbent Karazi Government should do more to control opium production and export of drug to other countries. The UNODC Execu
Published 13 May, 2005 12:00am
Proposals to streamline tax rates, exemptions under study: Yusuf

Proposals to streamline tax rates, exemptions under study: Yusuf

Central Board of Revenue (CBR) Chairman Abdullah Yusuf has said that the government is considering various proposals for streamlining tax rates on listed companies, allowances of salaried class and complications pertaining to tax exemptions would be simpl
Published 13 May, 2005 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Thursday (May 12, 2005).

Published 13 May, 2005 12:00am
Warid Telecom launches mobile service

Warid Telecom launches mobile service

Al Warid Telecom, owned by the Abu Dhabi Investment Group, launched its GSM/GPRS services here on Thursday, becoming the seventh cell phone operator licensed by the Pakistan Telecommunication Authority (PTA). It claimed to connect 28 major cities with a t
Published 13 May, 2005 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Thursday (May 12, 2005).

Published 13 May, 2005 12:00am
Jamil Bismil passes away

Jamil Bismil passes away

Renowned film, radio, stage and television artist, Jamil Bismil, passed away in Lahore, according to a TV report.
Published 13 May, 2005 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Thursday (May 12, 2005).

Published 13 May, 2005 12:00am
Raise in transport fares condemned

Raise in transport fares condemned

The people of Karachi have condemned recent increase in public transport fares While condemning the Sindh government's decision to raise buses, coaches and mini-buses fares by 20 percent, they said that the common man was already facing financial crisis d
Published 13 May, 2005 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Published 13 May, 2005 12:00am
Industrial workers yet to get enhanced wages

Industrial workers yet to get enhanced wages

Millions of industrial workers living in vulnerable condition across the country are still waiting for a formal decision on enhancement of their minimum wages from its current level of Rs 2,500 to Rs 3,000 despite last year's official announcement. On Dec
Published 13 May, 2005 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 13 May, 2005 12:00am
USC selling bulk sugar against rules

USC selling bulk sugar against rules

Instead of benefiting the common man, a large percentage of Utility Stores Corporation's (USC) sugar stock is making its way into the open market of Rawalpindi and Islamabad. According to sources, some outlets of the Utility Stores Corporation (USC) in th
Published 13 May, 2005 12:00am
Cotton hedge trading to be enforced

Cotton hedge trading to be enforced

Commerce Minister Humayun Akhtar Khan has said the government will implement the Cabinet''s decision on hedge trading in cotton business to stabilise market. He was talking to newsmen after a meeting with a high-level delegation of the Karachi Cotton Asso
Published 13 May, 2005 12:00am
Ukraine to cut extra costs to boost grain exports

Ukraine to cut extra costs to boost grain exports

Ukraine's government intends to cut what it believes to be unnecessary grain export delivery costs in an effort to boost sales, Ukraine's Farm Minister Oleksander Baranivsky said on Thursday. "Exporters now pay between 215 and 217 hryvnias ($42.5-$42.9) a
Published 13 May, 2005 12:00am
Cotton hedge trading to be enforced

Cotton hedge trading to be enforced

Commerce Minister Humayun Akhtar Khan has said the government will implement the Cabinet's decision on hedge trading in cotton business to stabilise market. He was talking to newsmen after a meeting with a high-level delegation of the Karachi Cotton Assoc
Published 13 May, 2005 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 93,219 tonnes of cargo including 64,365 tonnes import and 28,854 tonnes export cargo including 3,574 containers during last 24 hours ending at 0700 hours on Thursday. The cargo comprised of 53,069 tonnes dry cargo including 35,582
Published 13 May, 2005 12:00am
Cotton hedge trading to be enforced

Cotton hedge trading to be enforced

Commerce Minister Humayun Akhtar Khan has said the government will implement the Cabinet's decision on hedge trading in cotton business to stabilise market. He was talking to newsmen after a meeting with a high-level delegation of the Karachi Cotton Assoc
Published 13 May, 2005 12:00am
US Midwest corn higher, soya mixed

US Midwest corn higher, soya mixed

Basis bids for corn were steady to higher in the US Midwest interior on Thursday while soyabean bids were steady to mixed, with scattered rain prompting light sales of both commodities, merchandisers said. Storms halted fieldwork in most of the western co
Published 13 May, 2005 12:00am
$1 billion trade with each Asean nation eyed: Prime Minister

$1 billion trade with each Asean nation eyed: Prime Minister

Pakistan on Thursday hoped to up its bilateral trade with the Asean countries to $1 billion each, after Malaysia, Thailand and Singapore agreed to move forward towards concluding an agreement on Free Trade Agreement. "The FTA will provide necessary framew
Published 13 May, 2005 12:00am
FOB Gulf corn and soyabean lower on thin demand

FOB Gulf corn and soyabean lower on thin demand

US FOB Gulf corn and soyabean basis offers were mostly steady on Wednesday, weighed by thin export demand and lower barge freight, traders said. Barge freight bids were 5-10 percentage points lower at St. Louis on the Mississippi River and the lower Ohio
Published 13 May, 2005 12:00am
$1 billion trade with each Asean nation eyed: Prime Minister

$1 billion trade with each Asean nation eyed: Prime Minister

Pakistan on Thursday hoped to up its bilateral trade with the Asean countries to $1 billion each, after Malaysia, Thailand and Singapore agreed to move forward towards concluding an agreement on Free Trade Agreement. "The FTA will provide necessary framew
Published 13 May, 2005 12:00am
Syria to sell soft and durum wheat

Syria to sell soft and durum wheat

Syria's state grains agency has tendered to sell 20,000 tonnes of soft baking wheat and 20,000 tonnes of hard durum amber wheat, traders said on Thursday. Bidding deadline on Tuesday (May 17). Both the soft wheat and durum is from Syria's 2004 crop. Both
Published 13 May, 2005 12:00am
$1 billion trade with each Asean nation eyed: Prime Minister

$1 billion trade with each Asean nation eyed: Prime Minister

Pakistan on Thursday hoped to up its bilateral trade with the Asean countries to $1 billion each, after Malaysia, Thailand and Singapore agreed to move forward towards concluding an agreement on Free Trade Agreement. "The FTA will provide necessary framew
Published 13 May, 2005 12:00am
Indonesian cocoa arrivals slow on poor quality beans

Indonesian cocoa arrivals slow on poor quality beans

Cocoa bean arrivals in eastern Indonesia's Sulawesi region this week were half what they were a year ago because of poor crop quality, amid strong demand from Malaysia, Asia's top grinder, traders said on Thursday. High waste content and small size beans
Published 13 May, 2005 12:00am
17 fishermen missing after boat sinks

17 fishermen missing after boat sinks

Seventeen fishermen were missing while two of their fellow crewmembers were found alive after their boat sank at sea, officials said on Thursday. The vessel had not been heard of since leaving the Karachi port on May 2 but it was unclear when it went down
Published 13 May, 2005 12:00am
Thai rice prices fall

Thai rice prices fall

Thai rice prices are expected to fall over the next week with few overseas buyers in sight and with speculation that the government may sell its large stockpile, traders said on Thursday. Thai 100 percent parboiled grade was down $4 at $300 per tonne, fre
Published 13 May, 2005 12:00am
17 fishermen missing after boat sinks

17 fishermen missing after boat sinks

Seventeen fishermen were missing while two of their fellow crewmembers were found alive after their boat sank at sea, officials said on Thursday. The vessel had not been heard of since leaving the Karachi port on May 2 but it was unclear when it went down
Published 13 May, 2005 12:00am
CBOT wheat futures lower on positioning ahead of USDA

CBOT wheat futures lower on positioning ahead of USDA

Wheat futures at the Chicago Board of Trade closed lower on Wednesday, with traders citing profit-taking after Tuesday's rally and positioning ahead of monthly crop reports from the US Agriculture Department. CBOT May wheat ended down 6-1/2 cents at $3.06
Published 13 May, 2005 12:00am
Oil cake market rates

Oil cake market rates

Upward trend persisted on the forward cottonseed oilcake market on Thursday as most of the buyers increased buying on anticipation that present trend might continue in the prices in the coming days, dealers said. The May vaida commenced unchanged at Rs 44
Published 13 May, 2005 12:00am
Firm trend witnessed on cotton market

Firm trend witnessed on cotton market

Firm trend was witnessed on the cotton market on Thursday as prices maintained the overnight levels ahead of the TCP May 14 auction, dealers said. The official spot rates remained unchanged at Rs 2200, without upcountry expenses. They said that the cotton
Published 13 May, 2005 12:00am
Salvador coffee output seen up

Salvador coffee output seen up

El Salvador's coffee production should rise in 2005/06 after the crop suffered in 2004/05 due to unfavourable rain and farmers who were driven into debt from the last coffee crisis. Agriculture Minister Mario Salaverria told Reuters late Wednesday at the
Published 13 May, 2005 12:00am
Dyes move both ways

Dyes move both ways

The trading on dyes sector moved both ways on Jodia Bazar on Thursday. The following variations were seen in bases China Blue BB down Rs 110 to Rs 550, SCARLET G up Rs 5 to Rs 90, Gamet GBC up Rs 15 to Rs 90, China Ten Jin Rohdamine B down Rs 5 to Rs 220,
Published 13 May, 2005 12:00am
Wheat rises on tight supply

Wheat rises on tight supply

Steadier trend was again witnessed on the grain market on Thursday as most of the commodities retained overnight levels amid cautious trading, dealers said. On the cereal side, wheat Mexipak gained Rs five to Rs 1,055 on strong demand, they added. Market
Published 13 May, 2005 12:00am
High hopes for cotton hedge resumption

High hopes for cotton hedge resumption

According to traders in Karachi, a high level delegation of Karachi Cotton Association (KCA) led by its Chairman Haji Abdul Shakoor Dada met Commerce Minister Humayun Akhtar Khan last Wednesday in Karachi who reportedly told them that because the federal
Published 13 May, 2005 12:00am
High hopes for cotton hedge resumption

High hopes for cotton hedge resumption

According to traders in Karachi, a high level delegation of Karachi Cotton Association (KCA) led by its Chairman Haji Abdul Shakoor Dada met Commerce Minister Humayun Akhtar Khan last Wednesday in Karachi who reportedly told them that because the federal
Published 13 May, 2005 12:00am
New York coffee futures advance

New York coffee futures advance

Arabica coffee futures prices rebounded to end up more than 2 percent on Wednesday, as roasters and speculators took advantage of sliding bean prices in the session, traders said. The most active arabica contract, July, rose 2.6 percent to settle at $1.24
Published 13 May, 2005 12:00am
US Plains HRW wheat basis bids hold steady

US Plains HRW wheat basis bids hold steady

US Plains spot hard red winter wheat basis bids were steady on Wednesday with movement out of the country remaining quiet despite gains in futures prices, merchandisers said. "You just can't find anything out in the country and anything you do find is pre
Published 13 May, 2005 12:00am
New York cocoa down a notch on speculative selling

New York cocoa down a notch on speculative selling

US cocoa futures prices ended lower on Wednesday, with speculative sellers reversing buying spree as the dollar strengthened, traders said. The benchmark July cocoa contract dipped $6, or 0.4 percent, to settle at $1,491 a tonne on the New York Board of T
Published 13 May, 2005 12:00am
Indonesian cotton imports seen up 15 percent

Indonesian cotton imports seen up 15 percent

Indonesia will boost cotton imports by 15 percent to an estimated 2.2 million bales in the 2004/05 marketing year, but imports will be flat the following year, a US Agriculture Department attache said on Tuesday. Preliminary data showed imports reached ab
Published 13 May, 2005 12:00am
Bank of Cyprus first quarter net profit up

Bank of Cyprus first quarter net profit up

The Bank of Cyprus posted a 49 percent increase in first-quarter net profit on Thursday, helped by a rise in net interest income and an improved loans and advances portfolio, it said. Core profits in Greece, its main overseas market, were flat because of
Published 13 May, 2005 12:00am
Bank of Cyprus first quarter net profit up

Bank of Cyprus first quarter net profit up

The Bank of Cyprus posted a 49 percent increase in first-quarter net profit on Thursday, helped by a rise in net interest income and an improved loans and advances portfolio, it said. Core profits in Greece, its main overseas market, were flat because of
Published 13 May, 2005 12:00am
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